$hide=mobile

GSTR-3B date extended for those opting to avail transitional credit

The GST Council had earlier decided to defer the filing of return in Form GSTR-3 and had recommended the filing of return in Form GSTR-3B for the month of July and August, 2017. Accordingly, the Central Government vide Notification No. 21/2017-Central Tax dated August 8, 2017 had notified the last date for filing of return in [Form GSTR-3B] for the month of July, 2017 as August 20, 2017.

Registered persons entitled to avail input tax credit (“ITC”) in terms of section 140 of the
CGST Act, 2017 readwith Rule 117 of the CGST Rules, 2017 but opting not to
file Form GST TRAN-1 on or before the August 28, 2017

Registered persons entitled to avail ITC in terms of
section 140 of the CGST Act, 2017 readwith Rule 117 of the CGST Rules, 2017
and opting to file Form GST TRAN-1 on or before the August 28,2017

August 28, 2017

(i)Compute the “tax payable” for the month of July, 2017 and
deposit the same in cash onor before the August 20, 2017, which will get
credited to electronic cash ledger;

(ii)File Form GST TRAN-1
(which will be available on the common portal from August 21, 2017) before
the filing of Form GSTR-3B;

(iii)Where the amount of tax
payable for the month of July, 2017, as detailed in the return furnished in
Form GSTR-3B, exceeds the amount of tax deposited in cash as per item (i), the
registered person shall pay such excess amount in cash on or before August
28, 2017 along with the applicable interest @18% calculated from the 21st
day of August, 2017 till the date of such deposit. This amount will
also get credited to electronic cash ledger.

(iv)File the return in Form
GSTR-3B on or before August 28, 2017 after discharging the tax liability by
debiting the electronic credit or cash ledger.

Steps to be followed in aforementioned Case A& C: Assessee
not opting to avail transitional credit

Where registered persons
planning not to avail transitional credit for discharging the tax liability for
the month of July, 2017 or new registrants who do not have any transitional credit
to avail, need to follow the steps as detailed below:

II.Tax payable as per (i) above to be deposited in cash on or
before August 20, 2017 which will get credited to electronic cash ledger;

III.File FORM GST TRAN-1 (which will be available on the common
portal from August 21, 2017) before filing the return in FORM GSTR-3B;

IV.In case the tax payable as per the return in FORM GSTR-3B is
greater than the cash amount deposited as per (ii) above, deposit the balance
in cash along with interest @18% calculated from August 21, 2017 till the date
of such deposit. This amount will also get credited to electronic cash ledger;

V.File the return in FORM GSTR-3B on or before August 28, 2017
after discharging the tax liability by debiting the electronic credit or cash
ledger

Bimal Jain

FCA,
FCS, LLB, B.Com (Hons)

Author of a book on Goods and Services Tax, titled,
"THE GST READER (GST made easy)” [4thEdition]